Reliance halts guidance; 3d-qtr. net up

Oct 16, 2008 | 11:36 AM |

The global financial meltdown hasn't had a major impact on Reliance Steel & Aluminum Co.'s business, but the nationwide service center chain, nevertheless, won't give a fourth-quarter earnings outlook until the economic signs become clearer.

RELIANCE STEEL & ALUMINUM CO.(in thousands except per share)200820073rd qtr. ended Sept. 30Net sales$2,572,836$1,812,092Net income152,49893,565Per share2.07 1.229 months ended Sept. 30Net sales$6,576,074 $5,550,018Net income416,489328,045Per share5.65 4.28"Currently, we have not seen a significant decrease in the amount of business activity, contrary to what you may be hearing and reading," David H. Hannah, chairman and chief executive officer, told Reliance shareholders in remarks accompanying the release....

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